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BP and DSM venture arms invest in Verdezyne

Verdezyne, Inc., an industrial biotechnology company developing cost-effective processes for the production of renewable fuels and chemicals, closed a new funding round. New investors in this round include BP Alternative Energy Ventures and DSM Venturing B.V.; they join existing investors OVP Venture Partners and Monitor Ventures.

Verdezyne has significantly advanced its robust yeast production platform for the company’s ethanol and adipic acid processes. The additional financing allows Verdezyne to continue to build its yeast metabolic engineering capabilities to produce a pipeline of renewable transportation fuels and platform chemicals.

Over the past year, we have been impressed with Verdezyne’s progress in its yeast platform for both fuels and biobased chemicals. We see this investment as strategic given the complementary activities to our own portfolio within Biobased Products and Services.

—James Iademarco, vice president of bio-based chemicals and fuels at DSM

Comments

SJC

Oil companies can soak up the billions in profits over the years and wait for some company to come up with something and then invest.

The company has to do this because there is NO money anywhere else. Even if there was, when it is time to go public, no investment bank will underwrite the IPO if it means missing out on any future bond offering commission for BP or Exxon.

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